BHEL has a strong bullish setup. Wave 1 of 3 was a leading diagonal. Wave 3 after leading diagonal usually goes to 1.618 times wave 1 which is at 81.95. Breaking out of small yellow channel the stock should pick momentum again and go to 70 first, pull back a bit and then go to 80+ levels ultimately.
Comentário:
BHel had a false break out and then fell back to the lower trendline of the yellow channel. It has broken out today now with good volumes and should now achieve the required targets.